Leases

12 Months Ended

Dec. 31, 2025

Leases

Leases

8. Leases

The Company has one operating lease pertaining to 5,969 square feet of corporate office space in Sugar Land, Texas pursuant to a lease agreement that commenced April 1, 2022. As of December 31, 2025, the remaining term of lease was 1.58 years. The lease requires monthly lease payments that are subject to annual increases throughout the lease term.

The components of lease costs, which are included within general and administrative expenses in the Company’s consolidated statements of operations and comprehensive loss were as follows (in thousands):

	For the Year Ended
	December 31,
	2025		2024
Lease costs:
Operating lease cost	$	96	$	96
Variable lease cost		83		80
Total lease costs	$	179	$	176

Supplemental disclosure of cash flow information related to the lease were as follows (in thousands):

	For the Year Ended
	December 31,
	2025		2024
Operating cash flows from operating leases	$	200	$	197

The weighted-average discount rate and remaining lease term were as follows:

	For the Year Ended
	December 31,
	2025		2024
Weighted-average discount rate	9.50	%	9.50	%
Weighted-average remaining lease term	1.58		2.58

As of December 31, 2025, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

Year Ended December 31,	Amount
2026	$	129
2027		88
Total lease payments		217
Less: imputed interest		(16)
Present value of lease liabilities		201
Less: operating lease liabilities, current portion	$	116
Operating lease liabilities, net of current portion	$	85